Forget your login? Sign InPassword:User ID:v. 16.10 First-time user?

Did you see this week's Briefs?

October 16, 2020  —  Volume 3, No. 29

 
 
Having trouble viewing this email? Click here
Tax Master Network Briefs
 
 

DON'T Use "Your" Words

 

Sometimes the right word can make all the difference in the world. That's especially true when you're looking to sell tax services. Like most professions, we live in a world of our own jargon. But when we use our prospects' and clients' language, we make beautiful music. What are some of the terms your target markets use, and how can you put them to work yourself?

 

For years now, I've described the tax planning process as similar to what happens when you go to the doctor. First there's a diagnosis — what's wrong? Then there's a prescription — in our case, a tax blueprint that identifies the green lights the client can take advantage of to pay less. Finally, someone fills the prescription, which in our case means implementing the plan, preferably through our Tax Operating System®.

 

That analogy is perfect for introducing your services to healthcare professionals. Other healthcare-related terms include the difference between chronic and acute conditions — taxes are a chronic ailment that requires continuous planning and course-correction. And once, in a seminar on retirement planning for physicians, I walked them through my argument that except in rare circumstances, qualified plans (especially defined benefit plans) are overrated tools — in that case, I likened them to leeches and bloodletting. (That one may not have gone over quite as well as I expected it would, but it got the point across!)

 

Yesterday I delivered a plan to a guy who imports clothing by the shipping container from China. As I described tax-planning as an ongoing process, I likened taxes to hemlines — they go up and they go down, and we have to constantly adjust our tactics to the current fashions.

 

Real estate agents work with three primary types of homebuyers: starter, move-up, and executive prospects. Why would you style your monthly maintenance packages as silver, gold, and platinum when you have such better alternatives? (With attorneys, you might have the associate package and the partner package. What hierarchies do your target markets observe that might lend themselves to different packages?)

 

Building trades businesses can make a fortune. What's your role when you work with them? You're the general contractor, of course — but you'll sub out some of the specialized work like cost segregation or 401(k) administration to subcontractors.

 

What tools does your target market use? I've analogized captive insurance to a Swiss army knife — but there may be something they use that you can turn into an analogy. Just using a term that they take for granted like that builds comfort and trust. It shows you've at least done some homework, if you're not actually "one of them."

 

As for homework, all you need to do is turn to Google. Who's your target market? Just look up "(target market) jargon" or "(target market) lingo" or "(target market) vocabulary and see what you find. And look for the bad stuff, too — whatever kryptonite they know to stay away from. (That's the term you use for your competition!)

 

Let your imagination have fun with this one. And report back to us so we can "crowdsource" a whole glossary of target market words!

 
 
Want to learn more about the Tax Master Network? Visit www.TaxMasterNetwork.com
 
 

Tax Master Network Briefs:

Vol. 3, Number 32;

October 16, 2020

 

 

DON'T Use "Your" Words

  

Members Only

 

 




Interesting Image

Edward A. Lyon, JD,

Publisher

 
 
 
 
Members Only  
 
Next Wednesday Business Development Call-In:  
 
***The October 21st Call-In is canceled due to the Virtual Greenlight Academy on the 22nd & 23rd. Register for VGLA here. ***
 
Wednesday, October 28th at 1:00 pm Eastern (10:00 am Pacific)
 
Join Ed, Keith, and other Tax Master Network members to ask any questions you have about Tax Master Network strategies, features, or philosophy, or just to talk marketing and practice management. 
 
Next  Mpath Training:  
Postponed until further notice. 
 
ReFueled Webinar ( Advanced and Elite Members Only):  
 
 
Tuesday, October 27th at 1:00 pm Eastern (10:00 am Pacific)
 
What's an assignment without accountability? ReFueled is the monthly group webinar hosted by Ed Lyon or special guest to discuss and recap the monthly Fueled course. ReFueled will take place on the fourth Tuesday of the month- unless there is a conflicting event or holiday. 
 
 
 
 
Tax Master Network, LLC
A Financial Gravity Company
Ticker Symbol: (OTCQB: FGCO)
 
 
 
If you want to update your mailing preferences, use our Preferences Center.
 
OR
 
If you no longer wish to receive our emails:  Unsubscribe
 
Tax Master Network 3825 Edwards Rd Suite 103 Cincinnati, Ohio 45209 United States 1 (800) 588-3893